Hanmi Pharma’s Q3 Operating Profit Plunges 62%
South Korean drug maker Hanmi Pharmaceutical said on Oct. 27 that its operating profit plunged 61.6 percent in the third quarter compared with the previous year when the firm’s revenue surged after winning a blockbuster licensing deal from German pharma giant Boehringer Ingelheim.
Operating profit came to 13.77 billion won (US$12.10 million) on consolidated basis, while sales decreased 18.1 percent to 219.72 billion won in the quarter ended on Sept. 30. It swung to a net profit of 6.3 billion won.
The sharp decline in operating profit was exacerbated by the high base in the same period last year following an 850 billion won agreement with Boehringer Ingelheim to jointly develop and sell a lung cancer treatment HM61713.
Operating profit came to 13.77 billion won (US$12.10 million) on consolidated basis, while sales decreased 18.1 percent to 219.72 billion won in the quarter ended on Sept. 30. It swung to a net profit of 6.3 billion won.
The sharp decline in operating profit was exacerbated by the high base in the same period last year following an 850 billion won agreement with Boehringer Ingelheim to jointly develop and sell a lung cancer treatment HM61713.